The optimism in global markets driven by Whit House Economic Advisor Larry Kudlow for a meeting with China having the agenda of negotiation for tariffs which are hurting the both the economies have fueled the domestic index today. Nifty50 opened on a flat note at 10,936 levels, managed to sustain at those levels and continued to rise for an intraday high of 11,024.70 levels. Out of 2129 stocks, 1183 are advanced, 539 are trading in red and 407 are unchanged. On hourly scale, the index is forming a classic 'Head and Shoulder' pattern that signals for a rally after a downtrend. The index is trading above 200 hours Exponential Moving Average. RSI is trading above 60 levels showing no signs of divergence and oversold. DMI's have shown a fake convergence.